Slimmer-Than-Expected Q2 Losses Boost Big Lots Stock

Big Lots stock has shed more than 50% in 2022

Digital Content Manager
Aug 30, 2022 at 9:25 AM
facebook X logo linkedin

Retail name Big Lots Inc (NYSE:BIG) just entered the earnings confessional with second-quarter losses of $2.91 per share, which was slimmer than analysts expected. Big Lots' revenue of $1.35 billion also topped estimates, however, the firm predicted that its current-quarter comparable sales would fall to the low double-digit range, compared to last year's numbers. In response, BIG is enjoying a pre-market pop, last seen up 3.9% at $22.39. 

The stock has been chopping lower for the better part of the year, with pressure at the 130-day moving average rejecting two of the stock's braver breakout attempts. The 80-day moving average has stepped in as a more immediate rejection level on the charts, and could act as pressure for any additional upside from the equity. Year-to-date, BIG sports a 52.2% deficit. 

Analysts have yet to chime in, but the sentiment surrounding BIG is gloomy. Five of the eight in coverage call the stock a "hold," while the remaining three say "sell" or worse. Plus, the 12-month consensus price target of $21.43 sits at a slight discount to current levels. 

Options traders have taken a more bullish stance. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security sports a 50-day call/put volume ratio of 2.10, which stands higher than 80% of readings from the past 12 months. In other words, long calls are getting picked up at a quicker-than-usual clip right now. 

Echoing this, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.72 stands in the low 19th percentile of its annual range. This implies short-term options traders are more call-biased than usual. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI